Alkami Technology (NASDAQ:ALKT) Sees Large Volume Increase – Time to Buy?

Alkami Technology, Inc. (NASDAQ:ALKT) saw strong trading volume on Thursday . 751,941 shares were traded during mid-day trading, an increase of 62% from the previous session’s volume of 463,578 shares.The stock last traded at $37.74 and had previously closed at $39.86.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on ALKT shares. The Goldman Sachs Group boosted their price objective on Alkami Technology from $34.00 to $39.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. JMP Securities boosted their price target on Alkami Technology from $38.00 to $41.00 and gave the stock a “market outperform” rating in a research report on Tuesday, October 29th. Craig Hallum raised their price objective on Alkami Technology from $38.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Barclays upped their target price on shares of Alkami Technology from $35.00 to $41.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Finally, Lake Street Capital raised their price target on shares of Alkami Technology from $30.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $37.44.

Alkami Technology Price Performance

The stock has a 50-day simple moving average of $33.65 and a 200 day simple moving average of $30.68. The company has a market cap of $3.81 billion, a PE ratio of -80.57 and a beta of 0.43. The company has a quick ratio of 3.52, a current ratio of 3.52 and a debt-to-equity ratio of 0.05.

Insider Activity at Alkami Technology

In other Alkami Technology news, insider Stephen Bohanon sold 15,605 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $31.59, for a total transaction of $492,961.95. Following the completion of the transaction, the insider now owns 388,181 shares of the company’s stock, valued at $12,262,637.79. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Stephen Bohanon sold 15,605 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $31.59, for a total transaction of $492,961.95. Following the completion of the transaction, the insider now owns 388,181 shares of the company’s stock, valued at approximately $12,262,637.79. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder George B. Kaiser sold 1,666,666 shares of Alkami Technology stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $31.17, for a total transaction of $51,949,979.22. Following the completion of the sale, the insider now owns 8,419,784 shares of the company’s stock, valued at $262,444,667.28. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,065,083 shares of company stock worth $205,073,268. Company insiders own 25.90% of the company’s stock.

Institutional Trading of Alkami Technology

Several hedge funds have recently made changes to their positions in ALKT. Intech Investment Management LLC acquired a new position in shares of Alkami Technology in the third quarter valued at approximately $387,000. Advisors Asset Management Inc. boosted its position in Alkami Technology by 117.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,166 shares of the company’s stock valued at $37,000 after buying an additional 631 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Alkami Technology by 108.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 54,494 shares of the company’s stock worth $1,719,000 after acquiring an additional 28,395 shares in the last quarter. Fifth Third Wealth Advisors LLC purchased a new stake in shares of Alkami Technology during the third quarter worth $1,115,000. Finally, Oppenheimer Asset Management Inc. acquired a new stake in shares of Alkami Technology in the third quarter valued at $1,860,000. Institutional investors and hedge funds own 54.97% of the company’s stock.

Alkami Technology Company Profile

Alkami Technology, Inc offers cloud-based digital banking solutions in the United States. The company's Alkami Platform allows financial institutions to onboard and engage new users, accelerate revenues, and enhance operational efficiency, with the support of a proprietary, cloud-based, and multi-tenant architecture.